Sold Price: $400,000 List Price: $424,900 Sold Date: Feb 21, 2024
Sq. Ft.: 4,000
Type: Commercial
Listing #NJCD2054152
Buyer's Agent: Kevin Piccolo Listing Agent: Kevin Piccolo
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This is an outstanding investment opportunity which offers a huge upside potential. Current monthly rents totaling +/- $37,000 per year are well below market value. The property consists of 2 commercial units on the first floor which have long term tenants on month-to-month leases and 2 residential units on the second floor, also long term month-to-month tenants. This building could be purchased by an investor for passive income or could be used as an owner/occupant affording them substantial monthly income. All tenants have their own heat and electric. Landlord pays water and sewer. The property is well kept, but could use some cosmetic updates within the residential units. Seller to have a brand new silicone roof installed on the building w/10 year warranty. Property is a stone's throw from the Gloucester Premium Outlets, a thriving +/- 1,000 square foot fashion outlet.
Buyer's Agent: Kevin Piccolo Listing Agent: Kevin Piccolo
Based on a fully amortized fixed rate loan. Ask your agent for the tax rates in your area. Insurance estimate is based on an average cost, your final premium cost will be determined by the type of coverage you select. This program only provides an estimate.